you have some of the smart ones, the amx in amsterdam and the psi both unchanged. but most of the markets are just shy of a half percent. when it comes to the sectors repositioning, you're seeing sell-off in bank resources right off 1%. some upside in technology. and in telecoms as well. >>> now, i was just showing you the numbers we were looking at a second ago. we have the head of fx strategy from bank of merrill lynch global research here with us this morning. good morning. >> good morning. >> looking at the massive moves we have seen in the euro/dollar of late, is it just a matter of time before we hit party? >> well, it's been an exciting time in the last 12 months. the market did not have the position before, but i would argue that the euro/dollar could be to the upside in the short-term where we see profit taken towards the end of the year. also in the first quarter, we are looking at the u.s. data that has been consistently weak. and third, i think the market is a challenge the ecb is facing. and at the last ecb meeting, at some point next year, we may see